Class asserts ‘cash balance’ early retirement program was unfair

Defendants adjudged fully at fault for miscalculating benefits under new plan

In a class-action lawsuit filed in U.S. District Court for the Southern District of Texas, Ann W. Humphrey, individually and on behalf of all other similarly situated, sought ERISA early-retirement pension benefits from defendants United Way of the Texas Gulf Coast (UNT) and United Way of the Texas Gulf Coast Cash Balance Plan.
In 1996, UNT ...